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Date: 25/10/2024

IMF estimates India’s growth at 7 pc in FY25

The growth projection for India is at 7% for the current fiscal, said the International Monetary Fund (IMF) in its latest World Economic Outlook report. The forecast, however, is 20 basis points (bps) lower than that of the Reserve Bank of India (RBI). For FY26, too, the IMF has retained India’s growth outlook at 6.5%. The outlook is for GDP growth to moderate from 8.2% in 2023 (FY24) to 7% in 2024 (FY25) and 6.5% in 2025 (FY26) because the pent-up demand accumulated during the pandemic has been exhausted as the economy reconnects with its potential. On the global level, the Fund has retained its world’s economic growth projection at 3.2% for 2024 but has cut its 2025 projection by 10 bps (3.2%), as per a report.

Source: Exim News Service: Washington, Oct. 24